Hudson Value Partners LLC Takes Position in Citigroup Inc. $C

Hudson Value Partners LLC acquired a new stake in shares of Citigroup Inc. (NYSE:C) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,285 shares of the company’s stock, valued at approximately $600,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in shares of Citigroup in the 1st quarter worth $25,000. Mcguire Capital Advisors Inc. bought a new position in Citigroup during the fourth quarter valued at about $25,000. Richards Merrill & Peterson Inc. acquired a new position in Citigroup during the fourth quarter worth about $28,000. TD Capital Management LLC acquired a new position in Citigroup during the fourth quarter worth about $28,000. Finally, IMG Wealth Management Inc. raised its position in Citigroup by 197.6% in the first quarter. IMG Wealth Management Inc. now owns 244 shares of the company’s stock worth $28,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on C. Bank of America upped their price target on shares of Citigroup from $170.00 to $176.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Evercore set a $143.00 price objective on shares of Citigroup in a research note on Monday, July 6th. UBS Group dropped their target price on shares of Citigroup from $150.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Barclays increased their target price on shares of Citigroup from $146.00 to $154.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Citigroup from $140.00 to $153.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Citigroup has an average rating of “Moderate Buy” and a consensus price target of $145.22.

Citigroup Price Performance

Shares of NYSE:C opened at $135.78 on Wednesday. The company’s fifty day moving average is $137.02 and its two-hundred day moving average is $125.19. The company has a market cap of $231.58 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. Citigroup Inc. has a 12-month low of $90.68 and a 12-month high of $147.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.71.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, July 14th. The company reported $3.15 EPS for the quarter, topping the consensus estimate of $2.74 by $0.41. Citigroup had a return on equity of 10.15% and a net margin of 10.23%.The business had revenue of $24.77 billion during the quarter, compared to analysts’ expectations of $23.74 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Citigroup’s revenue was up 14.5% compared to the same quarter last year. Equities analysts expect that Citigroup Inc. will post 11.2 earnings per share for the current fiscal year.

Citigroup Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 3rd will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.68 annualized dividend and a yield of 2.0%. This is an increase from Citigroup’s previous quarterly dividend of $0.60. Citigroup’s dividend payout ratio (DPR) is currently 28.94%.

Citigroup declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 7th that allows the company to repurchase $30.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Key Headlines Impacting Citigroup

Here are the key news stories impacting Citigroup this week:

• Positive Sentiment: Healthcare banking expansion: Citi appointed new leadership across biotechnology, medical technology, biopharmaceuticals and acute-care banking. The changes position the firm to benefit from increased healthcare dealmaking and could support future advisory, underwriting and financing revenue. Citi Taps New Healthcare Banking Leadership as Dealmaking Heats Up
• Positive Sentiment: Large financing mandate: Citi co-led a $414 million financing for restaurant-commerce platform inKind. The oversubscribed transaction brings inKind’s total capital raised above $1.2 billion and demonstrates Citi’s ability to win sizable private-company financing business, although the direct earnings impact is likely limited. inKind Secures $414 Million in Financing Led by Citi and Cross River
• Positive Sentiment: European leadership hire: Citigroup hired Jean-Baptiste Charlet from Morgan Stanley to lead its French operation. The move could help Citi strengthen its presence in France and compete for corporate, markets and investment-banking mandates. Citigroup Poaches Charlet From Morgan Stanley to Head French Arm
• Neutral Sentiment: Research activity remains visible: Citi maintained a Buy rating and raised its price target on MongoDB, while separately lowering its target for Micron because of potential slowing memory pricing and rising Chinese competition. These calls may generate research and client activity, but they have little direct effect on Citigroup’s earnings or valuation.

Citigroup Profile

Citigroup Inc is a global financial services company headquartered in New York City with roots tracing back to the City Bank of New York, founded in 1812. The modern Citigroup was created through the 1998 merger of Citicorp and Travelers Group and has since operated as a diversified bank holding company that provides a broad range of banking and financial products and services to consumers, corporations, governments and institutions worldwide.

Citi’s principal businesses include retail and commercial banking, credit card and consumer lending products, wealth management and private banking, and a full suite of institutional services.